Word: stockman
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Caspar Weinberger against Budget Director David Stockman, the President eventually announced that there would be only a $13 billion trim in the increase in military spending over the next three years, and a mere $2 billion cut for fiscal 1982. He also ruled out deferring the tax reductions enacted in July. In rejecting these courses, Reagan could plead consistency. He has been adamant in calling for a military buildup to counter the Soviet threat. In his speech he described national security as "Government's first responsibility." He had also campaigned on a pledge to lower taxes and could hardly...
...previously reported, DeMuth's new milieu is the Office of Management and Budget, the nerve center of administration budget-slashing headed by David Stockman (Div School '70). DeMuth's title is administrator for information and regulatory affairs, and-a bonus-executive director of the President's "Task Force on Regulatory Relief...
After reporters were shooed away, Stockman argued for 45 minutes in favor of a $30 billion reduction in 1983-84 defense authorizations. Weinberger, strongly supported by Haig, argued for a following 45 minutes that any rollback beyond about $7 billion or $8 billion would undermine the Administration's foreign policy commitments. Both men made liberal use of charts to back up their points; Stockman's were mostly numbers, but Weinberger's were illustrated with drawings of weapons such as tanks. Under questioning from Reagan, Stockman, whose presentation was the smoother of the two, came down...
...about the deficit, interest rates and the slumping stock market was enough to persuade Reagan last week to try new versions on some parts of his economic program. During a 75-min. meeting on his first morning in the Oval Office after the Labor Day weekend, Budget Director David Stockman told the President that broad new cuts in federal spending would have to be made soon if Reagan were to have any chance of fulfilling his promise to erase
...federal deficit by 1984 and restore business confidence. Said Stockman: "Wall Street is skeptical because they have seen a decade of broken promises. We have to make believers of them." The President agreed: "We've got to hold down the budget deficit and stay on target...